Elastic (NYSE:ESTC) Receives “Neutral” Rating from Cantor Fitzgerald

Elastic (NYSE:ESTC)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $100.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential upside of 12.01% from the stock’s current price.

ESTC has been the subject of several other reports. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Royal Bank Of Canada raised their target price on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Truist Financial lifted their price target on shares of Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 20th. UBS Group increased their price objective on shares of Elastic from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Wells Fargo & Company raised their price objective on shares of Elastic from $60.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.52.

Elastic Price Performance

NYSE ESTC opened at $89.28 on Wednesday. Elastic has a one year low of $42.05 and a one year high of $108.00. The stock has a 50-day moving average of $78.48 and a 200 day moving average of $62.71. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 7.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, sell-side analysts forecast that Elastic will post 0.65 EPS for the current year.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 29,227 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $2,565,546.06. Following the transaction, the chief executive officer owned 599,525 shares of the company’s stock, valued at approximately $52,626,304.50. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 5,485 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total transaction of $481,473.30. Following the transaction, the insider owned 112,954 shares of the company’s stock, valued at approximately $9,915,102.12. This represents a 4.63% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 1,075,641 shares of company stock valued at $98,430,566. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in Elastic in the second quarter worth $211,000. Engineers Gate Manager LP lifted its position in Elastic by 43.7% during the second quarter. Engineers Gate Manager LP now owns 129,697 shares of the company’s stock valued at $7,395,000 after purchasing an additional 39,468 shares during the last quarter. Squarepoint Ops LLC lifted its position in Elastic by 1,139.5% during the second quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock valued at $5,576,000 after purchasing an additional 89,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Elastic in the 2nd quarter worth $319,000. Finally, Syon Capital LLC purchased a new position in shares of Elastic in the 2nd quarter worth $3,300,000. 97.03% of the stock is owned by institutional investors.

Elastic Company Profile

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.